Universities across the UK are generating billions of pounds in spare cash and planning huge increases in capital spending, the UCU revealed today.
By analysing financial data from each higher education institution in the UK, UCU has been able to identify the scale of cash being hoarded by universities and the 'eye watering' amounts that the sector is planning to spend on new buildings.
Today, UCU says the sector must rethink its priorities and use its surpluses and the money saved from scrapping 'needless vanity projects' to raise staff pay to help them through the cost of living crisis.
